BTCUSD is showing a lot of technical trading patterns. This patterns could be traded. Longerterm predictions right now might now be helpfull. BTC still has a full downside risk going to "Zero".
BTC, technical and fundamentaly, before todays (anticipated) reversal pattern:
Last upsidemomentum was during the G20 Meeting:
But follow by a reversal just days later:
Best case scenario now for hodlers and alt coin BTC -1.96% would be a new low with lower momentum than seen before. Same time BTC -1.96% should remain above the downtrendline.
SL @ 6,6k - 6,8k
Maximum short term target: Broken supportline @ 7,6k
Remind the risks.
News - Bitcoin Continues Its ‘Death Cross’ Sell-Off
Investing.com - Bitcoin and other virtual currencies declined on Friday amid increased concern of a “death cross,” in a thinly traded holiday.
Bitcoin was trading at $6,945.00, dipping 7.83% as of 6:56 AM ET (10:56 GMT) the Bitfinex exchange, not far from its overnight low of $6,692.20
The decline in Bitcoin was driven by talk of a so-called “death cross,” which is a term used to describe a crossover of the 50-day moving average and the longer-term 200-day moving average. Technicians often look at this pattern as a bearish sign of what's to come.
Increased regulation and a fall in prices has also contributed to an investor sell-off as interest in virtual coins wanes. Total cryptocurrency market cap has fallen almost below $260 billion, according to data from coinmarketcap.com, the lowest point since November 2017.
Markets in Europe and the U.S. were closed on Friday for the Easter holiday weekend. Trading is expected to be thin as a result. https://www.investing.com/news/cryptocur...
SL lowered to 6,5k. Trade remains active.
trade opened @ 6.960
trade closed @ 6.760
net loss @ 200